MECU is a Maryland-based credit union whose acronym stands for Municipal Employees Credit Union. Membership eligibility has expanded since its founding and includes consumers who live, work, or worship close to the Baltimore area. The credit union offers personal and business banking services, as well as insurance and investment planning guidance.
On the personal banking side, MECU makes depository products like checking, savings, money market, and CD accounts available, as well as lending products like mortgages, home equity lines, and vehicle loans. Checking account options all come with free online bill pay and direct deposit and differ based on interest and reward incentives. Several checking accounts offer ATM refunds, and one account offers cash back in exchange for debit card purchases. Savings account offers feature cash bonuses, and fees are waived on minors’ accounts. A teacher-designed savings account helps teachers save and plan for the summer months when there is no income stream. Money Market accounts have minimum initial deposit requirements and offer increased earnings for higher balances held. MECU’s Certificates of Deposit (CDs) and IRA CDs are available in term lengths that range from 9 to 60 months and offer flexible accounts that allow a penalty free withdrawal and/or a penalty-free rate bump.
MECU online banking provides a safe and secure way for members to access their accounts and transfer funds, check balances, pay bills, and update their account information. The credit union has also released mobile banking apps that make banking on the go convenient and easy from select smartphone and tablet devices.
MECU was established in 1936 to meet the banking needs of Baltimore’s municipal workers. Since then its membership has expanded, and the credit union serves it through multiple branches located in the Baltimore area, where its headquarters are located.
Field of Membership Restrictions
Membership in MECU Credit Union is open to anyone through joining the American Consumer Council through the credit union (must reside in Delaware, Maryland, Pennsylvania, Virginia, or Washington DC). Membership is also open to those who live, work, attend school, or worship in the City of Baltimore, Maryland and to employees of Dixie Manufacturing, Alter Communications and to over 100 Select Employer Groups in the Baltimore area.
See current membership details
One of the Better Credit Unions
I have a credit union account with MECU of Baltimore and it has overall been a great experience. At MECU you will earn higher interest on your money on nearly every credit union I have researched which is a great thing being that will all ultimately want our money to grow. MECU has an abundance of financial products to help you with any economic goal you may want to obtain. The last major positive with this credit union is that they are devoid of many fees that other banks and credit unions often have. The only negative point I would like to make about MECU is that their website seems to be a little behind the times. It seems like they are able to offer such good rates and excellent financial products at the expense of having a prehistoric website. Nevertheless, I have decided that this is an awesome place to invest my money and I will be a member for a very long time. Anyone who is looking for a place to put their money should definitely look into MECU of Baltimore to see if they are eligible.
Scam And Rudeness
After being a customer for 14 years, I have finally had enough of being ripped off by excessive fees. The folks that run MECU are the same folks that have run the city of Baltimore into the ground. I'm tired of rude employees as well, I will be taking my business else where! The rudeness goes all they say to the top, they act like they're doing you a favor! Done! As the last person put it they dont even deserve a one star rating!
VERY RUDE EMPLOYEES AT DUNDALK BRANCH
Hello,
I have been a Full member over a month now, and prior to doing this, I have been exposed to rude, and unprofessional employees at the Dundalk location. I began to work with the Branch Manager for my business, but this past weekend there were no branch managers on duty, so I was forced to go to the tellers. There was a teller on loan from her main facility, and she gave me attitude, refused to accept my deposit checks for my Mother, who is on my account; plus she constantly rolled her eyes, and did not say thank you or anything. So with that said, I will be moving my account to another Credit Union ASAP.I have left messages for either branch managers to contact me so I can get the process completed. I will NEVER do business with MECU again, and neither will any of my friends, family or co-workers.
You need to get your employees in line or give them their PINK SLIPS. (They don't even deserve a 1 star rating).
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66787 |
| Year Chartered | 1936 |
| Employees | 289 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.36% |
| Return on Equity - YTD | 4.44% |
| Annual Interest Income | $39.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $1.32B$1.36B |
| Loans | Q4 2022vs Q4 2021 | $787.1MM$725.9MM |
| Deposits | Q4 2022vs Q4 2021 | $1.16B$1.20B |
| Equity Capital | Q4 2022vs Q4 2021 | $107.4MM$137.8MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $11.7MM$11.7MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $12.9MM$12.2MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$145.00K |